Word: raider
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...stock market breaks through an important psychological barrier into uncharted territory. While professionals take the milestone in stride, many believe that the run-up marks the start of a third and major upsurge in the great bull market that began in 1982. -- Corporate Raider Carl Icahn gives up on his bid for USX. -- Defections plague a computer-industry alliance...
...corporate managers, the very mention of Carl Icahn's name is enough to cause shudders. But USX Chairman David Roderick may be tougher than most. Last week, after a three-month battle to gain control of the largest U.S. steelmaker, Icahn abruptly gave up, outmaneuvered by Roderick. The corporate raider and TWA chairman had been unable to raise the $10.5 billion needed to capture the company. Says Joachim Schnabel, investment officer for the College Retirement Equities Fund, which holds more than 2 million USX shares: "You have to credit USX management for not caving...
Smith Barney, another blue-chip investment firm, started its own brouhaha by suing Goodyear Tire and Rubber and Sir James Goldsmith. To stop a takeover bid by Goldsmith last month, Goodyear agreed to buy back the raider's 12.6 million shares of the company for $52.50 apiece, nearly a 22% premium over their market value of $43. Such buyouts at a premium not available to other shareholders are known as greenmail...
...Real Estate Developer Edward DeBartolo to make a $1.8 billion offer for Carter Hawley Hale Stores, which operates Neiman-Marcus and Bergdorf Goodman. American Brands, a consumer-products conglomerate, made a $2.8 billion bid to take over a similar but smaller company, Chesebrough-Pond's. And Minnesota- based Corporate Raider Irwin Jacobs offered to pay about $4 billion to acquire Borg-Warner, a diversified company best known for its automotive products. The stocks of these targeted firms actually fell or remained steady just before the takeover announcements, suggesting that Wall Street's insider rumor mill may have shut down...
McDonald finished the Crimson scoring with less than two minutes left in the game and Harvard--after a Butch Cutone elbowing penalty--a man down when he stole a Colgate pass at center ice and broke in all alone on the Raider goalie...